Liuzhou, Guangzhou — Faurecia of France and Liuzhou Wuling Industry have formed a joint venture to make, develop and deliver car seats in China.
Called Faurecia Liuzhou Automotive Seating, the firm will initially supply SGMW affiliate OEM brands. SGMW is itself a joint venture between Liuzhou, GM and SAIC.
Sales for the Faurecia joint venture are forecast to reach CNY 1.8bn ($ 264 m) by 2022, the firm said. It added that the new venture will supply complete seats, frames and other seat components from three existing plants and one to be built.
Hagen Wiesner, executive vice president of Faurecia Automotive Seating said that the JV would help his firm's strategy of achieving '20% of our sales with Chinese OEMs y 2018 ad 30% by 2020.'
He added that it helped his company's policy of 'localisation and expands our footprint in the Southwest of China.'
Currency Conversion: XE.com 4 July 2017.
